Stardust
Fri Jan 17 2025
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6 answers
1420
What is an interbank exchange rate?
The interbank exchange rate is the rate that banks use when trading currencies with each other on the open market. It's the mid-point between the buy and sell rates, representing the most accurate rate of exchange at any given time. However, this rate is generally reserved for banks and large financial institutions.
Thu Jan 09 2025
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5 answers
924
Why should you use interbank currency exchange rates?
I want to understand the significance of using interbank currency exchange rates. Why is it beneficial or important to consider these rates for currency exchange transactions?
